OREANDA-NEWS. Tata Chemicals (TCL), a global company with LIFE as its business -Living, Industry and Farm Essentials reported an impressive 5percent jump in its income from operation at Rs4,820 crore.

Key performance and financial highlights:

Standalone

Soda Ash demand stable, prices firming up.

Improved margins and volume in Salt business

Farm Essential business - weaker operating performance - below expectation

Subsidy receivable at Rs1,664 crore as on 31 December 2014. Subsidy collections under pressure

Consolidated

Global soda ash demand continues to be positive. Better realisation across all geographies

Turnaround strategy in Kenya starting to show results

European restructuring in progress

Rallis India Q3 revenues at Rs385 crore. Crosses gross revenue of Rs1500 crore in 9 months

Financial Highlights for the Q3 FY1415:

Standalone

Income from Operations at Rs. 3,019 Crores up by 13%

Profit from Operations at Rs. 275 Crores up by 1%

PBT at Rs. 257 Crores up by 35%

PAT at Rs. 205 Crores up by 39%

EPS at Rs. 8.03 (Not Annualised)

Consolidated

Income from Operations at Rs. 4,820 Crores up by 5%

Profit from Operations at Rs. 590 Crores up by 17%

PBT at Rs. 374 Crores up by 183%

PAT after minority interest at Rs. 238 crores

EPS at Rs. 9.35 (Not Annualised)

Commenting on the company's Q3 FY14-15 performance, R Mukundan, managing director, TCL said "The quarter under review has been encouraging, apart from good performance by all businesses; the restructuring exercise at Kenya has been completed and has resulted in positive improvements. European operations restructuring is in progress.

Stand-alone revenue were up by 13 percent to Rs3019 crore and net profit up by 39 percent to Rs205 crore due to better performance in the consumer and chemicals business in India. Better realisation at Tata Chemicals North America and positive performance by all the other businesses took the consolidated revenue to Rs4820 crore, a jump of 5percent. Revenue growth of 5percent is after closure of soda ash capacities in Kenya and UK in the previous year.

Consumer products business continues to grow consistently at the market place and maintains its leadership position with a market share of 69 percent in the national branded edible salt market. i-Shakti pulses and Tata Swach reported healthy volumes and continues to grow steadily with focus on increasing the penetration levels across India. Continued focus on expansion of branded products portfolio and market penetration helped Living Essential business achieve turnover of Rs1121 crore in first nine months of FY 2014-15.

The Fertiliser business continues to face headwinds due to lack of clarity in policy which resulted in substantial production loss. In addition to this, subsidy outstanding at Rs1693 crore is a challenge and continues to hamper the balance sheet. The new product NP 20 launched under farm essential business is doing well at market place and has received encouraging response.

We continue to focus on reshaping the portfolio to enhance share of consumer product business and non-subsidized farm inputs business."